Weekend Reads - Mar 15, 2025

Probabilities and Payoffs; Would You Rather Lend to the US Government or Microsoft; Pure Independence; Massive AI Spending: A Red Flag?; and more...

• Probabilities and Payoffs (Morgan Stanley)

• Would You Rather Lend to the US Government or Microsoft (DoubleLine)

• Pure Independence (Collaborative Fund)

• Massive AI Spending: A Red Flag? (Acadian)

• A Private Credit Fund With Equity-Like Returns (Eagle Point Capital)

• Our Research into Tax-Aware Long-Short Investing (AQR)

• Very.. Slow.. Mean Reversion.. And Some Thoughts on Trading at Different Speeds (This Blog is Systematic)

• Short-Term Vs. Long-Term Investors (Klement on Investing)

• Beta Paradox: Why REITs and EM Stocks May Beat/Outshine U.S. Large Caps (Advisor Perspectives)

• Risk Speedometers: What are allocators buying and selling? (Vanguard)

• Revisiting the Growth Equity Market Opportunity (Stepstone)

• International Quality (GMO)

• How to Survive A Stock Market CRASH ft Sanjoy Bhattacharya (📺 The India Opportunity with Shrishti Sahu)

• The Market Illusion: Mike Green on Inflation, Geopolitics and the Hidden Recession (🎧 Excess Returns)

• Sequential Entropy Pooling (Quantamental Investing)

• Return Extrapolation and Volatility Expectations by Chordia et al. (SSRN)

• Asset Co-movement, Investor Sentiment, and Market Volatility: An Analysis of the VIX and MOVE Index by Liu and Clarkson (SSRN)

• An Alpha in Affordable Housing? by Damen et al. (SSRN)